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Which one is micro or macro economics?
Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole. Microeconomics is the branch of economy which is concerned with the behavior of individual entities such as market, firms and households. The foundation of macroeconomics is microeconomics.
How is microeconmics depend upon macroeconomics?
Microeconomics matters deeply depend upon the macroeconomic activity. For example, price, rate of interest, rate of profit, wages etc all are known as microeconomic topics. But all they depend upon macroeconomic behavior. Price, rate of interest, wage are determined by their demand and supply in country not by individual demand and supply.
How do macroeconomics relate with micro economics?
Microeconomics determine the price of a particular commodity along with the prices of complementary and the substitute goods, whereas the Macroeconomics helps maintain the general price level, as well as it helps in resolving major economic issues like inflation, deflation, disinflation, poverty, unemployment, etc.
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